After "Vista Residence", Fututech will launch its second residential project in Monterez Golf and Country Club, Shah Alam, which has a projected GDV of RM200 million.

The project, Tee said, comprise 349 units of condominiums.

"We are [targeting] to launch the project by middle of next year," he said.

Currently, Fututech has RM130 million worth of contracts on hand.

On Fututech's proposed acquisitions of Kerjaya Prospek (M) Sdn Bhd and Permatang Bakti Sdn Bhd, Tee expects the deals to be closed by end of the third quarter of this year.

"Should the deals go through successfully, Fututech would be able to realise some RM1.8 billion order book and RM2.3 billion worth of contracts the Kerjaya Prospect has," he said.

"Post completion, we would see substantial revenue and net profit gains from the construction sector in the 4Q," he added.

Recall that, Fututech had on Feb 6, 2015 entered into a Heads of Agreement with Tee, Datin Toh Siew Chuon and Tee Eng Seng to explore and negotiate further on the proposed acquisitions of the Kerjaya Prospek and Permatang Bakti. The purchase consideration is RM380 million.

For FY14 ended Dec 31 last year, the group reported a 34% increase in profit after tax (PAT) of RM15.37 million, against its PAT of RM11.49 million seen in FY13.

Meanwhile, turnover rose by 48% to RM62.26 million, from RM41.99 million that was reported last year.